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Killeen Welcomes Multifamily Complex for the “Missing Middle”
The NRP Group, in partnership with The City of Killeen Public Facility Corporation (PFC), J.P. Morgan, and Texas Capital Bank, debuted Station42, a 368-unit mixed-income multifamily project in Killeen, Texas.
The partners focused on the “missing middle” who face challenges affording market-rate rents amid the region’s rapid population growth. To meet this demand, more than half of the property’s units are reserved for residents earning less than 80 percent of the area median income (AMI). NRP says they are targeting the military, young professionals and working families.
Residents will have access to a 24-hour fitness center, club room, gaming area, kitchen and dining space, and a coworking lounge with two tech-enabled conference rooms.
J.P. Morgan partnered with The NRP Group to provide equity investment in the project, while construction financing was provided by Texas Property Bank.
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- ◦Development
